New Found Gold (US:NFGC) ZACKSยท2025-07-10 17:01Core Viewpoint - New Found Gold Corp. (NFGC) has received a Zacks Rank 2 (Buy) upgrade due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system is based on changes in earnings estimates, which are closely correlated with stock price movements, particularly influenced by institutional investors [4][6]. - An increase in earnings estimates typically leads to higher fair value calculations for stocks, prompting institutional investors to buy or sell accordingly, thus affecting stock prices [4]. Company Performance and Outlook - The recent upgrade for New Found Gold Corp. indicates an improvement in the company's underlying business, suggesting that investors may respond positively by driving the stock price higher [5]. - For the fiscal year ending December 2025, New Found Gold Corp. is expected to earn -$0.13 per share, which remains unchanged from the previous year, but the Zacks Consensus Estimate has increased by 43.5% over the past three months [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have generated an average annual return of +25% since 1988 [7]. - The upgrade to Zacks Rank 2 places New Found Gold Corp. in the top 20% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [10].